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Exhibit 4-10  Supply and Demand Data for Apricots Which of the Following

Question 12

Multiple Choice

Exhibit 4-10  Supply and demand data for apricots Exhibit 4-10  Supply and demand data for apricots Which of the following would occur if the government sets a price floor of $4 in the market shown in Exhibit 4-10? A) There would be a shortage of apricots. B) Buyers would not purchase all of the apricots that are grown. C) Buyers would purchase more apricots than are currently being supplied. D) Farmers would reduce the number of acres allocated to the growing of apricots. Which of the following would occur if the government sets a price floor of $4 in the market shown in Exhibit 4-10?


A) There would be a shortage of apricots.
B) Buyers would not purchase all of the apricots that are grown.
C) Buyers would purchase more apricots than are currently being supplied.
D) Farmers would reduce the number of acres allocated to the growing of apricots.

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